Export of Medical Devices and Industry Integration of Russian Regions in the Context of Covid-19
The sudden and severe outbreak of Covid-19 has both challenged the world economy and created new opportunities to address the problem of domestic production, integration and export growth in Russia. The study aims to identify the characteristics of medical exports and assess the integration of indi...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Russian Academy of Sciences, Institute of Economics of the Ural Branch
2022-03-01
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| Series: | Экономика региона |
| Online Access: | https://economyofregions.org/ojs/index.php/er/article/view/10 |
| Summary: | The sudden and severe outbreak of Covid-19 has both challenged the world economy and created new opportunities to address the problem of domestic production, integration and export growth in Russia. The study aims to identify the characteristics of medical exports and assess the integration of individual Russian regions in the context of a pandemic. To this end, we analyse the volume and geography of medical devices exports in 40 Russian regions exporting to prevent the spread of new coronavirus infections. Characteristics of medical exports and sectoral integration in conditions of pandemic risks were identified. Exports of Covid-19 medical devices are highly concentrated in a small number of Russian regions. The development of export-oriented medical devices accelerated due to the intensification of existing production capacities as well as the involvement of related sectors in the value chain. Additionally, non-economic factors (threats to life and health of nations) are becoming increasingly important in international trade in the short term. The research highlights the high adaptation of Russian local producers to the needs of the world and domestic economy. Moreover, an increase in exports simultaneously allowed Russia to satisfy the domestic demand for medical devices for preventing and controlling the spread of coronavirus. The sector development requires the strengthening of export support institutions both in the major regions exporting Covid-19 medical devices and in the regions where this industry is still in its infancy but has already shown steady growth. Future research can focus on studying export trends of medical devices in the face of viral risks, as well as expanding the context to include strategies for the integration of Russian regions into global economic relations, considering sectoral specificities and the geostrategic situation.
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| ISSN: | 2072-6414 2411-1406 |